Loading…
Malaysian palm oil futures fell for a fifth day on June 30, closing down 1.84% at 2,298 ringgit per tonne, the lowest close since June 2. Malaysia's June palm oil exports rose 29% from May, and analysts expect July exports to fall 20-30% from June.
Rumours of an Indian import tariff increase also weighed on sentiment.
Expected softer July exports and a possible Indian tariff hike would reduce demand for Malaysian palm oil, supporting a bearish price view. Soyoil weakness in Chicago also limits upside.
brecorder.comReutersJun 30, 2020Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
